SunSirs: The Lithium Hydroxide Market Declined in November
November 29 2023 14:55:36 SunSirs (John)
Price trend
According to the Commodity Market Analysis System of SunSirs, as of November 28th, the average price of industrial grade lithium hydroxide in China was 176,600.00 RMB/ton, a decrease of 12.57% compared to November 1st.
Analysis review
The domestic industrial grade lithium hydroxide market was weak in November. The upstream lithium carbonate price continued to decline within the month, and the upstream spodumene concentrate market operated weakly. The cost side support for the lithium hydroxide market wasd weakened, coupled with poor demand performance, the market transactions were mainly long-term orders, and the atmosphere for bulk cargo transactions was weak. The downstream demand for high nickel materials was weak, and the enthusiasm for inquiry procurement was not high, mainly following up on demand and in cautious. The trading atmosphere in the lithium hydroxide market was flat, and the market was sluggish.
Upstream lithium carbonate: According to the commodity market analysis system of SunSirs, on November 27th, the reference price for lithium carbonate industrial grade was 134,400.00 RMB/ton, a decrease of 15.58% compared to November 1st (159,200.00 RMB/ton). The lithium carbonate market fell in November, which provided insufficient support for the lithium hydroxide market.
Market outlook
According to Lithium Hydroxide analysts from SunSirs, the market fundamentals were weak and the trading atmosphere was light. It is expected that the domestic lithium hydroxide market may continue its weak consolidation operation in the short term, and more attention should be paid to market news guidance.
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